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Lithium Australia in $7m acquisition

Junior explorer Lithium Australia has announced plans to acquire a Brisbane-based battery cathode developer in an all-scrip deal worth about $7.3 million.

Perth-based Lithium will issue up to 61.2 million shares to acquire Very Small Particle Company, which holds intellectual property that facilitates the production of battery cathode material.

The acquisition includes a decommissioned pilot plant in Brisbane, which is designed to produce complex metal oxides and phosphates for cathode production.

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